Sensex, Nifty trade volatile on mixed global cues; check what’s keeping investors on edge today

Indian share market was trading volatile on Wednesday on the back of mixed global cues

On the back of mixed global cues, headline indices BSE Sensex and Nifty 50 were trading volatile on Wednesday. The 30-share index Sensex was down 25 points or 0.06 per cent to trade at 38,818, while the broader Nifty 50 index was ruling flat at 11,471. Index heavyweights such as Reliance Industries (RIL), Bharti Airtel, Hindustan Unilever, Asian Paints and TCS were among stocks that contributed the most to indices’ loss. The broader market yet again outperformed the equity benchmarks. S&P BSE MidCap index was up 0.55 per cent or 82 points to trade at 15,178, while the S&P BSE SmallCap index was ruling at 14,959, up 0.60 per cent or 87 points.

Bajaj Auto jumps 4%: Auto stocks were leading gains on the index today, after Finance Minister Nirmala Sitharaman, on the need for lowering the tax rate on two-wheelers, said that it was indeed a good suggestion, as this category is neither a luxury nor a sin good and hence merits a rate revision.

RIL, Bharti Airtel top drags: Bharti Airtel was the top Sensex losers, down 2.74 per cent, followed by Reliance Industries, Asian Paints, HUL, UltraTech Cements, SBI, L&T and Sun Pharma. While, along with Bajaj Auto, IndusInd Bank, Bajaj Finserv, Axis Bank, ONGC and Power Grid Corporation of India were among index gainers.

Nifty Auto index top sectoral gainer: Barring Nifty FMCG, Nifty Pharma and Nifty PSU Bank indices, all the sectoral indices were trading higher. The Nifty Auto index was up 1.40 per cent while Nifty Private Bank gained one per cent.

FII and DII data: On Tuesday, foreign institutional investors (FIIs) bought shares worth Rs 1,481.2 crore, while domestic institutional investors (DIIs) sold shares worth Rs 172.97 crore on a net basis, according to the provisional data available on the NSE.

Results today: A total of 31 companies including Dolat Investments, Gillette India, Indraprastha Gas, Minda Finance, NACL Industries, Sharda Motor Industries, Shree Metalloys, Superb Papers, etc., are scheduled to announce their quarterly earnings later in the day today.

Global markets: Asian stock markets edged lower on Wednesday. The Shanghai composite down about 1.1% while the Shenzhen component declined 1.515%. In Japan, the Nikkei 225 was 0.18% lower. In overnight trade on Wall Street, the S&P500 and Nasdaq hit all-time closing highs. The Dow Jones Industrial Average fell 0.21%, the S&P 500 gained 0.36% and the Nasdaq Composite added 0.76%.